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darrenkav25

GBP/JPY - Neutral (Risk Off) Downward wedge 4 HR Chart

British Pound / Japanese Yen (OANDA:GBPJPY)  
darrenkav25  
OANDA:GBPJPY   British Pound / Japanese Yen
Trend Analysis Support and Resistance Wedge candlestickpattern wedgebreakout breakout GBPJPY patiencepays risk riskoff riskreward
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trendanalysis supportandresistance wedgepattern candlestickpattern wedgebreakout breakout gbpjpy patiencepays risk riskoff riskreward
Waiting on Japanese session reaction to GBP pullback. (PatiencePays)
If there is a breakout off the downward wedge (Long position)

Take profit 1: 140.000 (Resistance & just below 50% Fibonacci Retracement)
Take Profit 2: 142.650 (fibonacci Retracement 61%)

Fundamentals affecting decision:
Long Position positive news on trade war negotiations and continuation in reversal of the DOW/S&P 500.
Short position wedge continuation (Risk Off) Safe Haven Currency considering the uncertainty in the market.
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